SPE logo

SPE EOR Conference at Oil and Gas West Asia

21 - 23 March 2016

Muscat, Oman | Golden Tulip Hotel

Keynote Panel Session

Sustained Oil Development: Engine for Continued Economic Growth

Sunday, 20 March | 1920–2050

Multi Purpose Hall, Public Authority for Civil Aviation (PACA)


Oil has been providing the modern world with energy, industrial inputs, and sources of income, particularly, for many oil producing countries enabling significant economical, social, and industrial development. This is in turn led to varying levels of dependency on it by many of these countries; e.g. Arabian Gulf countries. Such dependency has always been posing major concerns that get amplified at times of low oil prices and loss of significant revenues. Sustained development and economic growth are seen to be threatened by such dependency and the fluctuating and cyclic nature of the oil-based revenues. Recently, the questions of dependency on oil are raised even stronger to the point of provoking wider public concerns and debates and calls for decoupling national development plans and economies from oil. However, the fact of the matter oil will remain to be a main source of energy and will continue to play pivotal roles in modern economies and in the development of many countries for decades to come. Not undermining the posed challenges and rising concerns about the impact of oil, it is the responsibility of the oil industry to respond to these concerns by addressing the issues of sustainability, its cyclic nature, environmental aspects, and enhancing its contributions beyond provision of energy and revenues. In this high level panel session, industry leaders – Ministers and CEOs – will share their perspectives and assessments of the oil industry roles and impacts at national and international levels, and shed lights on the strategies and contributions of the oil industry to national and international economical, social, technological development and advancements through the following main themes:

  • Overcoming the cyclic development/oil prices challenges
  • Diversifying and expanding oil contributions to economic growth (beyond the monetary revenues)
  • Need and value of , and role of the oil industry in driving capability building and technological advancement
  • Making the fossil fuel more environmental friendly and supporting sustainable developments.
  • From oil dependencies to oil enabling – regional long term strategies

Moderator:

Sean Evers

 

 

 

Sean Evers
Gulf Intelligence

 

 

 

Speakers:

His Excellency
Mohammed bin Hamad Al Rumhy
Minister of Oil and Gas
Sultanate of Oman

Raoul Restucci
Managing Director
Petroleum Development Oman

Michael Townshend
Regional President
for Middle East
BP

Jonathan Lewis
Senior Vice President Completion and Production
Halliburton